The provisions of this article shall apply to contracts by
the North San Diego County Transit Development Board, as provided for
in Division 11.5 (commencing with Section 125000) of the Public
Utilities Code.

Contracts for the construction in excess of ten thousand
dollars ($10,000) shall be awarded to the lowest responsible bidder
after competitive bidding, except in an emergency declared by the
vote of two-thirds of the membership of the board.

All bids for construction work shall be presented under
sealed cover and shall be accompanied by one of the following forms
of bidder's security:
(a) Cash.
(b) A cashier's check made payable to the board.
(c) A certified check made payable to the board.
(d) A bidder's bond executed by an admitted surety insurer, made
payable to the board.
Upon an award to the lowest bidder, the security of an
unsuccessful bidder shall be returned in a reasonable period of time,
but in no event shall that security be held by the board beyond 60
days from the time the award is made.